Singapore outpaces Hong Kong

People are dwarfed against the financial skyline as they take photos of the Merlion statue along the Marina Bay area in Singapore. — AP

SINGAPORE: Singapore looks like an attractive location for firms wanting to exit Hong Kong, but they may find a move to the city-state hits their bottom line more than expected.

With inflation soaring to the highest level in 14 years, expenses including the hiring of talent, office space and utilities are rising at a faster pace in Singapore than in its financial rival, where price increases have been more modest.